NETSOL secures Asian auto captive deal after strong start to year

Global business services and enterprise application solutions provider NETSOL Technologies has secured a multi-million dollar agreement to increase support for a major auto captive in Asia.

NETSOL will deploy its NFS Ascent platform, including loan origination and contract management, with the unnamed existing customer, which is an international tier-one finance business with a multi-billion dollar loan portfolio.

The contract win marks the latest success this year for the company.

It also secured an agreement with a top tier multi-finance company in Indonesia to deploy its mobile origination (point of sale) system.

The new contract includes a product license, five-year maintenance agreement, and agreed upon rates for any additional customization of the application.

At the start of the year, it launched its POS system for FCA Automotive Finance, in China, including adapting various aspects of its system to specifically address FCA’s unique operational requirements.

NETSOL Technologies has received the Auto Finance Software System Leading Enterprise Award at the China International Automotive Finance and Risk Management Summit.

The award acknowledges the top software solutions company within the auto finance sector.

Naeem Ghauri, president and global head of sales at NETSOL Technologies, said: “We closed fiscal 2018 with a flurry of sales activity, culminating in this new contract with a longstanding customer of ours.

“As we enter fiscal 2019, in addition to strengthening our existing relationships, we’ve also built on our strong pipeline of new projects. NFS Ascent remains the premium platform in its class, and, as large enterprise clients invest in future proofing their IT solutions to execute their digital transformation journey, Ascent remains at the core of this shift.

“Our team is working diligently to capitalize on the more mature prospects in our pipeline, and we look forward to building on our success in fiscal 2019.”